The first thing I noticed is that negative ETH sentiments do occasionally shift the price downward.

This is “shaking out weak hands” — mostly ETH novices who don’t know enough to shrug off the disinformation.

Then I noticed that buying action from whales surges after this sell off.

That makes sense. Whales move money in to exchanges to buy more ETH when the market drops.

But, this is where it gets really interesting.

There are multiple addresses that shift USDC, USDT, DAI and Paxos into exchanges BEFORE large spikes in anti-ETH tweets (both spikes in volume and negative sentiment)

Most Whale addresses move money in AFTER the social spike, and only respond to about 8% of spikes.

However, a handful of addresses (seemingly out of Asia and Europe) move the assets, almost without fail, BEFORE the shift in sentiment.

How often do these magical addresses seem to predict new increases in negative tweets?

Roughly 86.7% of the time…..

You don’t need to be a data scientist to realize that level of correlation is highly suspect.

Now, not all of these negative sentiment spikes are effective in moving the price.

In fact, it works less than 7% of the time. But, when it works, it works well.

And these whales are somehow always magically ready to capture it.

Which likely suggests that these addresses are actually funding ETH FUD or spreading it via bots so they can accumulate.

That sounds like a bad thing — but, if the funding for most of the hate about your project, comes from people who are simply trying to get in on the project at a better price — that says something about your quality and your future.

For what its worth, I (so far) do not believe that any of the BTC maxi’s who are anti-ETH are complicit in this manipulation.

It’s more likely they are getting anonymous tips/funding funneled to them, and bots retweeting their sentiment.

But it is something I plan to investigate further, as there would be some sweet sweet irony-filled justice if some of the top BTC maxis were funded by ETH money :)

Finding #28 — Genesis Hopscotch

You are on average, only roughly 12 wallet transactions away from a genesis block.

It’s the Ethereum equivelent of your ‘(Kevin) Bacon Number’ — Buterin Number is perhaps the best term here?

Finding #29 — Patient Miners

There are only 8 addresses in the top 10,000 that are not from genesis and have no transfers.

They are 8 solo miners who accumulated their wealth through early mining.

All are active wallets and seem to have no interest in selling.

Finding #30 — Delicious DeFi

In the top 250 wallets only TokenSets, Tornado.Cash and Maker have been used by individually owned wallets.

In the top 10k we also find Uniswap, Aave, Bancor, Compound, Kyber, Loopring, Nexus Mutual, Melon and Augur.

So far, these are used by less than 6% of the top 10k wallets, which means that DeFi still has incredible room for growth.

With $800M locked in DeFi — most of it comes from individual micro wallets.

Wait till whales catch on!

Finding #31 — Doubling DeFi

While not many whales are involved yet, the amount of ETH whales have put into DeFi has more than doubled over the past 6 months, with them expanding their positions in all of the above projects except for Loopring, Melon and Augur.

Finding #32 — Bullish.

In the end this is all extremely bullish for Ethereum.

Let’s recap:

Whales are increasing their stake.

New whales are funneling in.

Eth is more transacted than BTC.

There was more capital inflow into ETH than to BTC.

There is less ETH than you thought.

Not that much ETH can stake first round.

Staking returns could be as high as 17% early on.

Whales are accumulating.

Haters are accumulating.

Miners are accumulating.

Eth is as decentralized as Bitcoin.

ETH founders still hold most of their ETH.

Vitalik donates 1 ETH to the ecosystem for each ETH he sells.

Even market manipulators who fund FUD against ETH or short-sell, only do so to buy more ETH.

Very few whales are using DeFi right now. Plenty of room to grow.

Those whales who are using DeFi are rapidly increasing their holdings.